June 08, 2018

New €25 million industrial investment for the north of Bucharest

New €25 million industrial investment for the north of Bucharest

Ionuț Dumitrescu launches Element Industrial, a real estate development company focusing on logistic projects. The new company will develop a portfolio of industrial projects in Bucharest and Romania. The first is ELI PARK 1, to be built in two phases on a 10-hectare plot, on DN 7, in the North outskirts of Bucharest, Chitila area.

“Element Industrial will develop class A logistic parks, strategically located. We have taken the decision to start this business on the premises of an increasing consumption determining the significant development of both e-commerce segment and FMCG companies,” said Muler Onofrei, Managing Partner within Element Industrial.

ELI PARK 1 will total a 45,000 sqm lettable area of warehousing spaces and offices. The first phase of 20,000 sqm will be delivered in the second quarter of 2019. ELI PARK 1 is conveniently located 4 km from the Capital’s City Ring Road, by DN7, a four-lane national road. The main benefits are the ease of access towards North and Central Bucharest as well as the immediate vicinity of Chitila/ Buftea, an area with significant labor availability, unlike other classical logistic areas with such problems, A1 – km 14 or 23.

The new project will be designed and executed following strictly class A international standards, with characteristics such as 11.5 m clear height, one loading bay for each 800 sqm of warehouse, generous 35 mtrs truck court and numerous parking places. The minimum leasing surface is 2,500 sqm.

Muler Onofrei is an experienced real estate industrial manager, with 16 years experience on the local market. Muler coordinated the industrial department within Eurisko and was the director of Romanian branches for developers such as ProLogis, Soravia and Panattoni. He holds a RICS degree in “Portfolio Management”, as well as an MBA from the Kellogg School of Management, Northwestern University. Within Element Industrial, Muler occupies the position of Managing Partner.

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